Nio Jumps As Deliveries Vault 300%; Tesla Rival Sees Strong Q3 [Investor's Business Daily]
Li Auto Inc. - American Depositary Shares (LI)
Company Research
Source: Investors Business Daily
Related news Nio ( NIO ) grew July deliveries more than 300% as the Chinese electric vehicle maker along with rivals Xpeng Motors, Li Auto ( LI ) and Tesla ( TSLA ) boosted production. Nio delivered 3,533 electric SUVs in China last month, a 322% jump year over year but down 5% from June. July's total included 2,610 ES6 models and 923 ES8 models. So far in 2020, the so-called Tesla of China has delivered 17,702 electric SUVs. Deliveries of the EC6 electric coupe SUV will begin in September, Nio said Monday. The EC6 is sometimes seen as a rival to the Model 3 that Tesla is now making locally for the Chinese market. "We believe we will be able to increase our production capacity significantly to support higher deliveries in the third quarter of 2020," CEO William Bin Li said in a statement. Nio launched the EC6 in December last year. Nio began deliveries of the seven-seater ES8 electric SUV in June 2018, and of the five-seater ES6 in June 2019. Meanwhile, unconfirmed reports said Tesla
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LI
Sec Filings
- 4/23/24 - Form 6-K
- 4/18/24 - Form 6-K
- 4/12/24 - Form 6-K
- LI's page on the SEC website